Rentrak TV revenues up 84% in Q1

US — Media measurement firm Rentrak’s revenue increased 34% to $22.3m for the first fiscal quarter helped by an 84% increase in its TV Everywhere business.

Gross margin improved to 66% of revenue for the first quarter of fiscal 2015, up from 62% for the same period last year, largely due to revenue growth.

Bill Livek, Rentrak’s vice-chairman and CEO said: “We started fiscal 2015 on a strong note. Rentrak continues to make substantial progress with multichannel programming distributors, TV networks, local television stations, movie studios, and advertisers and their agencies, as well as with automated ad tech TV buying platforms.”

Operating expenses for the first quarter of fiscal 2015 totalled $16.1m compared with $12.7m for the first quarter of fiscal 2014. The company said the increase was primarily due to increases in headcount and stock-based compensation expenses.

Operating loss for the first quarter of fiscal 2015 was reduced to $1.4m compared with $2.3m in Q1 fiscal 2014.